A survey of multi-mycotoxin contamination was conducted in processed cereal-based foods intended for children and infants/toddlers in Tirana, Albania. Fourteen mycotoxins were quantified using liquid chromatography-tandem mass spectrometry (LC-MS/MS). Mycotoxins were detected in all cornflakes and maize flour samples, as well as in all infant cereals. Aflatoxin B1 (AFB1, 100%) and AFB2 (50.0%) frequently co-occurred in cornflakes, with the highest concentrations observed in cornflakes (0.469 µg/kg) and maize flour (4.469 µg/kg); both commodities exhibited 100% contamination. AFB1 was the most prevalent mycotoxin (88.2%), followed by deoxynivalenol (DON, 76.5%), fumonisin B1 (58.8%), fumonisin B2 (52.9%), and zearalenone (ZEA, 23.5%). ZEA, a phytoestrogenic mycotoxin, reached 97.5 µg/kg in maize flour, exceeding the European Union (EU) maximum level of 75 µg/kg for maize milling products placed on the market for the final consumer. Although AFB1 was detected in 50.0% of infant cereal samples, the mean concentration was low (0.005 µg/kg), and DON, although detected in all samples, remained low (mean 11.6 µg/kg). T-2, DAS, 3-AcDON, 15-AcDON, and OTA were not detected. The findings showed a matrix-dependent contamination pattern, with AFB1 and DON as the most frequently detected analytes. While most toxin concentrations were below EU regulatory limits, the observed exceedances of AFB1, fumonisins and ZEA in maize flour point out the necessity for intensified monitoring, stricter raw material controls, and risk reduction measures within cereal supply chains.